Convergence and the Investment Management Due Diligence Association announce the immediate availability of E-RISK and I-RISK, a web-based analytical and reporting tool that gives users the ability to download reports and conduct comparative analysis of Asset Managers that have been cited for infractions in SEC enforcement actions.  E-RISK  allows anyone to download analytical reports detailing the Convergence’s view on what high risk business conditions led to the infraction while I-RISK allows IMDDA members to compare and contrast similar risk conditions in their Managers to those who have been cited by the SEC.

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Sep 10, 2019 9:02:11 AM

Allocators to private funds are exposed to a variety of operational risks including regulatory and compliance risks, counterparty risks, systems and technology risks, portfolio valuation risks, cybersecurity risks, BCP and continuity planning risks.  The list of risks is very long and is the primary focus of the people that undertake operational due diligence reviews of funds and fund managers.  Perhaps the most critical risks are associated with cash controls and the prevention of theft and malfeasance. Both have occurred repeatedly throughout the industry, and are very highly correlated with a manager having poor cash controls. One of the ways to identify potential issues is to evaluate the managers' cash controls during the due diligence process. IMDDA Advisory Board Member John Ward was put together an interesting and timely white paper on operational due diligence and the evaluation of Cash Controls. To read the white paper as well as learn more about our upcoming programs please click here.

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There have been a number of concerning news stories about the investment management industry in the last few weeks that brought back to me all of the concerns that went around the hedge fund industry during the Madoff crisis. And the 2008 financial meltdown. And the 2010 insider trading scandal. And the Petters Ponzi scheme.

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